Posted on 01 January 1900.
Puma Energy acquires Chevron's marketing business in Namibia
13 September 2011
PUMA ENERGY ACQUIRES CHEVRON’S MARKETING
BUSINESS IN NAMIBIA
Puma Energy International (“Puma”) has agreed
to acquire Chevron’s fuel marketing businesses in Namibia.
Completion of the transaction is subject to regulatory approvals in
Namibia. The business will remain under Chevron’s ownership until
all approvals have been obtained.
The newly acquired businesses will add 26 fuel
service stations, additional bulk fuel storage facilities, and a
portfolio of industrial customers to Puma’s existing business in
the country.
This acquisition is a strategic fit for Puma,
enabling improved positioning in the country and ability to create
a critical mass to make Namibia a regional logistics and
distribution platform for supply not only in Namibia but throughout
Puma’s Southern African operations.
“This is great news for our business in
Namibia, and is yet another confirmation of Puma Energy’s
commitment to Africa in general and Namibia in particular. This
deal brings to Puma Namibia a good customer base and a good set of
assets that we will utilise to continue serving the Namibian
business community and general public. I am really excited about
this deal and know that our staff will be equally thrilled,” added
Maregesi Manyama, Managing Director for Puma Energy Namibia.
Puma Energy first entered the African
downstream sector in Congo in 2002, before expanding further into
West and Southern Africa. Puma Energy has become one of the
largest investors within the sub-Saharan downstream sector,
frequently in strategic partnership with governments, national oil
companies and independents.
Commenting on the acquisition, Puma Energy’s COO of Africa
Christophe Zyde said, “All of us at Puma Energy are thrilled by
this new acquisition. In addition to offering significant synergies
with Puma’s existing business in Namibia, this acquisition means
that we will now be able to use Namibia as a regional hub for
Puma’s business across the Southern African Development Community
(SADC). We look forward to start working with our new colleagues as
soon as possible and welcome them to a fast growing African
team.”
ENDS
For further information please contact:
Puma Energy press office:
Tel: +44 207 009 1708
mediainfo@puma-energy.com